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Our guide to Prepayment meters

4 April 2017 | News

Fairerpower are dedicated to offering the best possible tariffs and rates to our customers, including Prepayment options. Our Prepayment offering is currently one of the best on the market and it may be that this offering is better suited to your circumstances than other methods of payment.

 

So, what do you need to know about them before deciding if it’s right for you?

 

What are prepayment meters?

Prepayment meters, also known as pay as you go (PAYG) meters, allow you to pay for your gas and electric before you use it rather than by direct debit.
How do prepayment meters work?

Once you have switched to a Prepayment tariff and your meter has been installed, we’ll give you a key or card which is what you use to top of your credit on the meter. Money is loaded onto this key or card using your preferred payment method, and then inserted into the meter in your home. This is then added to your account and you can begin to use your energy until it’s time to top up again.

 Where can I top up my card/key?

To top up this card/ key, you need to visit either your local PayPoint store or top up at the Post Office. PayPoints are often situated in local newsagents who are open early until late so you always have the ability to pay. Post Offices offer dedicated Paystation terminals which allow you to top up.

Who are they suitable for?

If you’re living in a low income household and are worried you may not always have the funds to pay a direct debit, or you simply want more flexibility on the way you pay for your energy bills, then Prepayment meters may be a better option for you.

Things to be aware of…

Once you’ve run out of credit, you will be assigned a specific amount of emergency credit. However once this is used up,  your energy will disconnect and go off supply – but don’t worry, as soon as you top up, it should automatically reconnect when you insert your key or card into the meter again.

Keep in mind that we don’t take any standing charges or debt repayments while your energy is disconnected, or when you’re using emergency credit. So those charges will come off all together when you next top up.

That means that when you top up to reconnect your meter, you’ll need enough money to cover the emergency credit you’ve used, and any standing charges and debt that weren’t paid while you were off supply.

There’s no minimum credit amount to reconnect your meter – but make sure you top up enough to keep your energy on supply until you’re ready to top up again.

 

If you think Prepayment may be the best option for you, why not go to www.fairerpower.co.uk to get a quote or call 0800 408 6705 to see if we can help you save.

Don’t forget, Fairerpower also have some great pay monthly tariff rates, check these out on the website or by calling 0800 408 6701.

 

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